REGISTERED COMPANY NUMBER: 06782980 (England and Wales) REGISTERED CHARITY NUMBER.. 1127397 R•port Gf th• TnMt•M and FI￿nCIlI Slat•m•ni• for tho Y￿r Endod 30 Jun• 2025 THE JOHN BOOTH CHARITABLE FOUNDATION Krnx Cropper LLP Ch•rteod Nrtounlants and Statutory AuditorB 6S Leadenhall Street Lorxlc EC3A 2AD THE JOHN BOOTH CHARITABLE FOUNDATION Contents of the Flnanclal Statements for the Year Ended 30 Jum 2025 P•g• R•port ofth• Tru•ts•8 1 to 4 Report of tho Ind•pond•nt Audlt 5 to 7 ststem•nt of Fln•ncl•l A¢ifvitl•• Balanc• Shwt C**h Fl<)w Stst•m•nt 10 NotM to th• Ca•h Flow Stst•m•nt 11 Not•• to th• FI￿n¢1•1 Stat•m•nl• 12 to 20 THE JOHN BOOTH CHARITABLE FOUNDATION (REGISTERED NUMBER: 067829801 Report of the Trustees for the Year Endod 30 June 2025 The trustees who a￿ alsts dir8ttor5 of the chanty for the wrpose5 01 the Compani&s Act 2c￿. ￿sent their r￿trrt with the financi31 statements ol the charity for the year eTrJed 30 JurE 2025 The trustees have adopted the provisions of Accounting and Reporting by Charibes Statement ofRe¢omrnended Pracbce apklKXtAe to thantses prepanngthwraco)unts In aC￿r￿ar1 with the Finanaal Reportir@ Stsndard apklKatle n the UK and ol Ireland IFRS 1021 lth've 1 January 20191. 0￿ECTIVEs AND ACTMTIES Objectlv•8 and alms The object ol th8 Chanty Is the promobon ol ary ¢han¢able wrpose Of the ￿r￿fit ol the PLtJlt, prim8ftly in England, by tho provisi￿ of grants at th8 atsdute discretion Oft￿ Twste8 bth. These are mad8 largdy in fv areas of educath)n. the 8rts •thJ the Chri6ban f￿1g￿ and thèTnJ$t•es bBlieve that the Charty's grant making activities ¢￿t￿bUte sgnificantly to puNic benefit In these areas by ènabling substsntial numbers of young people to hav$ access lo educabon and trainirvJ, helpiryJ varioL¢S arts organisation$ to put on performances. exhibibons and %)cial programrnes which anhance the quality of life ol Ihe communityes ty Serve. aTrJ by ernpowering churche5 and faith groups to b8n•lit tho c¢mrnon good in a van•ty 01￿y$ 8$ ICOJ bank8. up4Jrt unions and Olhgr •Ctswb•8. In addition lo awarding 9r8nts. the Foundation octa&c¥ylty oll¥rs 4 loan ￿ tr￿Cess￿)nary tanns to a ban￿¢￿ry, wh•r• tho benef ck8ry's use ol the funds fvrth&rs the otye(*ves ofthe Foun¢Jation. Thé rnain actiwty ofth8 Chgnty duriThJ th• yearwas Iht ky0￿"8￿n ofgrants preth)rninar*ty to LwJ8nNations and ocus￿OI￿ to Inijividuals In area5 above rnentsoned. Grants to organIsat￿ are generally Ma￿ to oth8r d)anti&s whos• aims and obieclives Comp￿Ment the Chanty's own. Ihosg to IndivKlu81s are lar9dy made ¢0 ¥naWe Sludy to be undert8k*n. nom8lly in highèr educa￿1)n Cont•d 1$ maintained with tr￿th organisab￿S indNKlualo supprybj to their performance against the Foundation'6 cntena when grants ￿re mad8 to ￿rn. The Foundab'on wll whero n8C￿8￿ry aFvc¥nt wOfes8￿￿1 a¢trac¥# to irnpkment the Ch•rity'8 8tratsgic 8im8 a68088 oulcx)rnes Publlc b•n•flt In ￿artniNg ¢h* •¢tivrti•$ lor the year, thg Trystee3 have referred to the Chènty Commission's general guida￿e on public b8n6fi1. In particular. the Trustee$ cM*'der how plann•J thtses conin'txrte to the aims artd oty•ctiv83 Ihal they have set Grantmaklng The Trustees ¢on$id¥r aH applicabons frorn charrt•ty• ty9ani6atsons and from Indryiduals kn￿￿ or r•eommendod to them and espeoally those falling ￿th￿ th* ar•as of educabon. the Chnsts8n tsith ¥ntJ th* atts. The Trustees meet three or four bmes year lo Con￿11er short lisled appli¢otson$ (Igode ofthese ￿ SUFWt ACHIEVEMENTS AND peRFORMAN¢E Charltable a¢￿VitIe$ During the period July 2024 to Jun• 2025 the FouThJabW ￿rded 72 grants to organ¢Babtsfi$ and IndsvMJua15 8rnounting to £2.405,87912024 £1.8C6.4691. Further detalls ol the rarge ol 0vJanLryati0r￿ to grants awarded 801 out in not• 7 01 the financJal 3tatement$ 01 parts￿lar strJnffjCan￿ wg". - £1,250.0(X) awarde¢J to Nation¥1 Gall•ry fof the b￿tenary capit81 (￿1Paign. - £5CM),CKJO awarded to Chichester Cathedral tffirds R•storaticm & Development TfU$t - £150,￿0 awarded to Blacktr￿M CaiWr81 tMrd8 ¢d*WirwJ ts centenary and to bo in SUFWt of the 8p¢nsors+)ip of 8rt commissions . £1￿,000 awarded to The Design Museum for ￿reStn.¢￿￿I wrFooe8 over y•grs. Fundral•lng •cllvlll• As in p￿v￿￿S years. the Foundth"on r•c*iN*d a ¢Jonation frryn rts Iwst••s. The F0uTrjat￿ carry c¥Jt any acts'wtieB to raise lunds frorn rnernber$ of tha publ￿. Inv￿trn•nt p8rlormanc• The Charty's investments were valued at £23.778.282 ￿ 3(Mh Jure 2025. *n irmat• forth• yo8r tsf 3.% compared w￿th the ARC Si8rling Steady Grovrth which Ir￿Trase￿ by 4.2% in the Same Page 1 THE JOHN BOOTH CHARITABLE FOUNDATION IREGISTEREO NUIIJBER: 067829801 Report of the Trustees lor th• Y•ar El￿•d 30 Juno 2025 FINANCIAL REVIEW Flnancial position The Chanty received Income of £357.SO) frcffi donatson8 aTrJ asgxated Grft ￿"￿ £302.422 in investment ino)me. ExpeThJitur& comprised grants 8W8rded of £2.4C6.379, irNestment Man¥m8￿ f88$ of £82,￿￿ 8nd adminislr8b.on arKI governance costs of £15.297 totalling £2.483,582. Realised and unr8alis8d gain$ ￿ investrnents ￿n1*Y to £846.971 in Net Expethre aTrJ Net Movernent in Futvjs 01 £1976.689I. decre86iro totsl lunds to £22.832,S47. Prlnclpal lundlng 8oiirc•• The Charity's pnncipal lundin9 soure•s ¢¢th"nu•d to b• donats"¢M from thtr #nd irK¥Jnè generatsd by its investll￿nt portldio. In¥￿trn?nt pollcy and obl•cllv The Investment strategy ol the Trustees is to gf¢JW Chantys caprtal and irKom¥ to keèp paeè wiy) inflation over th8 longer terrn. subject to a mod•rat•18vg1 of risk and ￿[￿ideratr￿ of ¢he nee(1 for investrnent diversificat'on. The portfolio Is rnanaged on a total return basis 8t the di8creb¢Jn of the Chanty's Investrnent rnanager, Camo ca￿thI Partners LLP. Raportng 1$ monthly and the overall Investment p￿119 rl revimd quarterfy Chonty ¢Joè$ not currentty employ a formal ethical, social or environmontsl investmtsnt pc4y. R•oerve• pollcy The Charity seeks to m*ntain w Invulm￿l F￿￿0￿"0 of produoNJ a totsl rttum to 8UPP)rt Trustses, objectNes in grant makin9 In lin• with Il* Charity's cijjects. The Chanty total ftJnd$ of £22.832.547 at 30 June 2025 After deducb'rrfJ soaal Investrnents ol £NIl, re8•rv8s arnount to £22.832,$47. The Tw$toes ¢￿￿der ol re￿￿$ hdd to O& oJ)g'stant wth th& ra8eNes polio. Golng eonc•m 111$ Ihe Trustees, cu¢rent lntenb.on to ¢ts)tift￿ to luTha tr* Chgnty ¥ThJ inv•$1￿ p)rtlc4KI to b• Managed wrth a view to caplal growth. The Trustees bdieve thiB VKII enable th• Charty to C￿kn.n￿ to diitn'bJt• al loa615% 01 its ¢apit•l v81 annually lor the hre$8eable ftrtum. FUTURE PLANS Th¥ra are r)0 current outstanding tyedges but the FOundat￿n wll continue Its SUPF#Yt lor rn8ny tsf lh* ¢harrti•s to which grants have previously been made It 1$ ths Tr￿1￿$, 9081 to 9IVe Wy Ot least 5% olthe Chanty's Ca￿'(al value In 08ch y¥ar. STRUCTURE, GOVERNANCE ANO PAANAGEMENT Gov•rnlng docum•nt The John Booth Charitable FOundatiC￿ ffj a rewiered tr￿nty and a ￿fflp8ry limrte(l ty guarantO0, govem8d ty its M¢mor8ndum and Artides ofAssoryats'*Jn. RKrultm•nt •nd •ppolnlm•nt of n•w tru•t••• New Trustees are provKled with o tw$tg& file. whth Indudes a copy of ¢he g)veming dc•>Jm•nt, a copy ol the latest annual accounts and a copy of CC3. The Essential Twstee by ihe Chanty COMMI￿On. Trustees are recrurted for their knowledge ol 81 least on& ofthe Ihr8e areas the Charity SUPkJYtS 8nd ad¥¢rtN'rg may cam8d c￿rt to attract the right new trustees Il necessary. Organlsatlonal •tructur• Thè Charily employs no stalf, all t¢ry m•d8 by th• Trust8es. Related partl The Charty ho5 *ngage4J Cemo Cawl Party￿rn LLP to m•n•g¢ its inv&stsn8nts." Mr ec¥Jlh. a trustse, a partnèr in Cemo Caplal Partner Pog¢ 2 THE JOHN BOOTH cHAl￿TABLE FOUNOATI¢Y4 IREGISTERED NUMBER: 06782￿) Rèport of the Trustees for the Year Ended 30 Jun• 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Rl$k manogement The Trustees have C￿nSIdered the rnajor risks to whth the Chanty * exF<*ed and sab'sfi&J thernselves that $y$l8ms 8n¢J prO￿￿reS a￿ established to m￿096 those risks The maiof nsk$ lo %thi¢h the Chanty is expKJsed are mainty t￿)$* ol fvaLhJ of volatslity ol investrnents. The first Is mity"98ted by the Charity's r￿a￿'onShip and d•tsiled krtth￿edge ol almost all ts ￿n•T￿"an&s. a simple reporb'ng structure and no employees, thè second by ern￿OYIng exp￿￿nce￿ investsnent advisors. well to the Trustees. vtho manage a diYèrsifi¥d portfolio wth a moderate risk profile. REFERENCE AND ADMINISTRATIVE OETAIL8 R•gl#t8red Company number 06782980 (England and Wales Reglst•r•d Charlty numbor 1127397 R¥gl•t•fed offlc• 9 Cambridge Gate Lon(Jon NW1 4JX Tru•t¢•• T M Ashley JDSBooth The Right Revd Dr M C Wa Audltorl Knox Cropper LLP Chartered Accountants and Ststutory Auth'tor 85 Leadenh811 Street London EC3A 2AD STATEMENT OF TRUSTEES. RESPONSIBILITIES Thè trusièas (who are also thè dIre￿orS ol The John 8￿th chan1a1￿0 FouThJ8tion for Ihe purp)ses ol C￿panY lawl are rtssponsible ltsr preparing Ihe Report oltr)e Trustees aThJ finanoal ststgments In acurdan¢g wth ap￿*Ca￿e law and Unrted Kin9dom k¢ountsng s￿ndards IUnit8d Kingdom Gener￿ty Accepted koyJnbng Practscel. Company 18w requires the Irv5tees to prepare financiol $MemeNs frjr eath finawal year. Un(ler that law. th• trust8es have •lÈctÈd tts prèparè thè fin8naal Statements In accc*darth wih United KiThJdorn Gener8llyN£¢*ptsd A￿unts"n4 Practic• (Unrted Kingdorn kc4wntrng S¢and8rd8 aWIGatye l•wl. Under company 18W the trustees must not aFyrovtr the fin•naal slat•m8nts unless Ihty are sab"sfied that they give a true aTh lair view of the state ol affairs of the tharitable comparry of irKomiThJ resour￿5 and appli¢abon of r¢sourc8s, In¢ludi the income and •xpenditu￿. ol t￿ ¢hant8bl• ccAMpany for that perTh1. In prepariThJ tlThe finanaal statements, the tnjstees are required to select surtable xcounting policies and kn aFply Ilwm ¢orw8tty.' observè the methods and ￿napleS in Ihe Chanties SORP, make judgernen15 and ests'mates that artr rtr•sonablè aThJ prLthnt prepare the financjal staternents on the gc4.ng QYK•m b8$is unlw it 1$ rypwopnate lo pfesurne that the chaatab company wll conbnue in Pa9e 3 THE JOHN Bom CHARITABLE FOLWIDATION Report ofthe Trn8te•¥ forthe Year Ended 30 Jun• 2025 STATEMENT OF TRUSTEES. RESPONSI8IUTIE8- conllnued The tNstees are responsible for keeping proper acwunting reC￿)r￿S vknith ￿1th reastsnab￿ accuracy at any time the fina￿81 positi￿ of thè charitabk company and to eTrab￿ them to ensure that the ffinancial statements comply ¥￿th the Companies A￿ 2006. They are alsts responsib￿ for safeguarding the a&8ets of the charita￿* Lyimpany henee for tsking rèasonable steps for the Pre￿tiOn and detrclitin of fraud and other irregulanw. In 80 tsr as the trustees are aware.. there is no rewant audrt inf0m￿tIOn olvknth the tharItab￿ companls auditots a￿ unaware", and the trustees have taken all Steps thatthey oughtto have taken to make therr0e1￿ avRre of any re￿ant audit Info￿atiOn and to estsblish that the auditors are aware ofthat infomiatK)n. AUDITORS The auditors. Knox CropFer LLP. wll be Proposed for re-appointmenl atthè forthu)miwJ Annual General Meeting. This report has been prepared in aOX)rdan￿ wth Ihe spe(ial provi8ion8of P8rt 15 oflhe Compan*sAc120LK ￿laling to Thll Compan￿$. AFfJroved ty or¢Jer of the board of tDJstees on.......... ...... ......................... aThJ s¥J￿d on ib t*haVby.' J D S Booth- Trusté& Report ol th• Indèpèndent Audltorn to the *mbern of The John Booth Charitabl• Foundation Oplnlon We have audited the finanryal 5tstements ol Th• John Booth Charrta￿e Foundab'on (the 'charitable cornpany'l for the year and￿ 30 June 2025 which cc¥npnse the Ststernent of Finanual kaNitss, the Balanc£ Sheet, the Cash Fl(yw Statement and notes to the Iinana81 ststements. ind￿JIr￿j a surnmary ofs9nificant aC[￿n￿ng poliaes The finaroal reporting frarnework that has baen applied in their preparats.on 15 applicabb W and Unrt&J lQngdc¥n ￿th￿n￿ng Standards Iunited Kingdom Gonorally Accepted Ac¢ountirYJ Practice) In our O￿nIOn the finawal 3tsternents'. give a true and lair view ol the stsig ol Chantab￿ cOmw￿$ affairs 88 al 30 June 2025 8ntJ of its irKomin9 resour¢•s and application of reswrces. Indudin9 Its income and exFenditure, for th* year then ended., have been properly p￿pared in accordan￿ vMth United Kin9Jom Generalty A(c￿ted h£o)unts"r¥J Prth,. and have been prepared in accordanc* *ith the requirements ol lh8 Compani¢6 Ac¢ 2CXX. B••lo for oplnSon We conductèd our audit in ac£ordance wth Inlematv)nd Stsndards on Authtsng IUKI IISAS IUKII and aptyicable law. Our responsibjlities under those standards a￿ ￿rther described In the Auditors. reswnsibilrtie5 for the audrt of th8 financial slalemènls section ol our rekKJrt We ar8 Indep8nd•nt of fv thartsble corn￿9ny In accordan￿ wth the ethical r•quirem?nt Ih8t are relevant to our audit ol the finartial $lat•ments In ￿ UK, I￿lU¢￿'n9 lh8 FRC'S Ethical Standard, and ￿ have hjlfilled our other ethical rasponsitsilities In accJJrdance these rowifements. We t*l*vt thgttr* audrt evidence we have obtained 1$ $uffirJent ar￿ approprkryte to pfovNJe • ba￿ for cprmon. Conclu8lon8 relatlng to golng cone•m In auditing the financial 8laternentS. V+P have cc￿dud8d that th8 tru8t888' of th9 Conc￿ baw$ of acrKJLkitsng in thg preparat￿n ol the finano•l $W•m•nls 18 ￿￿¢￿￿te. Based on the work have perfofmed, we hav• not identsfied any matenal U￿ertaIn￿8S relabng to events or c￿ditIOnS that. individually or collectively, may cast svJnificant dwbt on the c*antatAe c4Jmpanl5 abilty to efjntsnuè 86 a going cfj￿rn f¢r penod ol al1•0s1 tsv•lv• montr4 from wh*n the ffina￿al slat8m8ths afe 8Uthonsed for Issue Our r•sponwblrti•s r•W￿l￿.1rt￿ ol lh8 tntste8s w￿lti res￿ to wng e4y*•m ar• in th• rd•vant oethon8 ol this report. Oth•f Inlomiatlon The trustees are resFonwbb fty th• Inlorn•bw. The cther infUMab￿ ¢LNnpriS￿ th• informatson induded in the Annual R8Wrt. other than th¥ finanaal ￿Jr ReFQrt oftrw l￿d￿nt A￿jItors there Our opinion on the financial statemenis dces not C4*ef other Inforrnatson and. ex¢eFé to th• •xt•nt othewse explicit stated In our report, we do nC*l expws ary lrym of assu￿¢* c4xckJ&on thewn. In connection wth our au¢it ol the finawd statements, our respo￿1￿.￿￿ is to read lh& fv inlormation and, in th)iNJ 60. ¢onsid¥r whether the other inform¥iion mat•rkalty InC￿Sist￿t wlh the finamal siaternentsor our knowKedge obtained In the audit or otremse appears to te maten81ty m¢sstaled. 11 Identity SLKh matgrral inconsistencKgs or apparènt material missiatement8, ￿ are required io Oelerrnine this gwes nse to 8 matenal miutatemenl In the financial statements thèmse￿es. 11, based ort the we have perfrymed. we c¢)nclwJe that the￿ is a mat•n81 misstaternent ol this othtrr information, we are required io rewrt that la¢# We Th)thing to rep)n in t￿$ regard. Oplnlon• on oth•r m•tt•r• prM¢rlb•d by th• Comp•nl•• Act 2006 In our opinion, based on the vK)rk undertaken In the coufse ol the a￿lIt. the Information given In Ihe Report ol the Trustees for Vle finanaal year fcfj thtr finanoal stgtements are pYep8red is consistent wth Ime finanrJ81 st8tements. and the Report of the Trusta•s has been wepared in awhcatle legal wuifoments. Page 5 ReF)Qrt of the Ind•p•nd•nt Audltc*¥ to th• M•mb•rn ol The John Booth Char5tabl* Foundation Mattèrn on *thich we arn r•qulrnd to r¢port by •xwtlon In the light of the knowledge and understaThJin9 01 ¢harrtable ccffipany and tts •n￿rOnMent obtain8d in thg COU￿ of the audit, have not Identsfied matenal misstatements in Ihe ReFKJrt of the Trustees. We have r￿thIng to report in ￿spe￿ of the folkthi'rvJ mattws wWe the Companies N£t 2Lf6 requires UB to ￿port to you If, in our opnion.. adequate accounts.ng r•cords have not b8•n k8Pt or rgtums 8¢J&]L4te Icrf our audit ha￿ not been recaved from bran¢hos not visited by us. or thè fin8nryal ststernents are not In agreèment the 8crounts.ng records and r*wms. or Certain disdosures ol trustees, ￿mUnerath.0n speufied by law are not made., or we have not received all th& 1nfomlat￿n and explanat¥Jns ￿ require for our audrt.. of the tru$tèg$ were not entiljed to take aJv¥nt&¥ tsf small companes ex&mptity) kn th? requirernent to pr•pare a Strategic Report crf in preparing lh& Roport of the Tnjstws. Rè#pon•lbllitie• of tr￿1••8 As explained more fully In Ihe stsfemenl of Truste•s' R•SpL¥￿ts1rt￿$. the twstee81*th0 8re algo the i*r•ctots ol the eh8riiable company lorthè wrposes ofcompany lawl are r•SponSi￿• lorthe preparaliw of the finanoal stsiemènts 8nd for being sali8fied that Ihoy give a true and fair view. and lor Int•mal ctsn￿ as ¢he tnJ6tee8 determine Is n8c68sary to on8￿￿ Ihts preparats'on of finanual Stsltments Ihat a￿ free from matenal misstat•m•nt. wthelher due lo fraud or error. In preparing th8 finanoal 8latement8. the tnmtees are re3F*￿￿tsK? for ass•ssry Iho tharrt&Ae company's athlity io continu8 a$ a going concem. disdosng. as applicabl8, matters rdal•J lo going o)rtem and uwng the going concem basis of a￿OUn￿n9 unless the Irusl¢8$ thlher Intend lo l¢qU￿ate the tharrtable ccrnpary Of to c8as• Operati￿$. or have no re81151￿ alternative but to do 80. Our re•pon•lNlItl￿ for th• •udlt of th• finanebal •tst•m•nt• Our objectives are to obtsin reasonable assurance abtyJt vknether ihe •iat•ments as • %th018 are free from rn8teTi81 rnisstaternent. whether due to fraud or error. and to ISSU8 a Re￿ ol the Independent Audrtors that Indud8$ ￿r opinion Reasonable as$ur8n¢e Is o high level tsf assurance, but Is rK)t a gvarantee that an audrt o)nducted In accordance with ISAS IUKI wll always detect a rnatenal rnisstaterneni ￿ rt exists. Misslatements can anse from fraud or error and are considere material il, individualty or in the aggregate. they CA>Jkl rea￿￿￿Y be expwA•d to ￿￿jenCe the ecI)r￿￿ ol users lgken on the b8818 01 th1￿ finawal Statements. The extent to our prctodure8 arè ¢•pabkn ofdetecDng irreg￿¥rrtW. in¢WlThJ fraud ffj delailgd below.. - W& obtalned gn unOorstandirrfJ of th8 le￿1 and rewl•tory framthths that arn to ￿ thantab￿ cornpany and delermined th•1 the mos¢ Significant are Ihe Slatement ol Recornmended 'h4￿Untsn9 8ntJ Reporting by Ch8ritses' ISORPI, In accor(Jance wth the Finanoal Repo￿n9 Standafd apFlicab￿ In the UK IFRS 1021 and the Companie$ Ad 2W6. - We gained an understanding of how ¢he ch8nt8ble c¢mpony coM￿led rts legal and reguLgtory frbmework. Including thè requirement lo prO￿rIY account lof festftc￿ funds. through discussions wlh mana9èment and a review ol the docurnented policies, Pro￿dureS and controls - The audit learn, wh￿h is exptrri•nc•d in lh• audrt of charibes, cOns￿ered the thantable cA)mpany's susceptits'lity lo rnaterial rnis8taternent and M)w fraud m8y occur Our Co￿￿38ratIcffjs Include the nsk of rn8n89oment ov8rrKIe. . Oijr appro8th was to thedE that the irume from donabwsand Investments were wopwly Identthed and 8xuraiety diSc￿se￿. that expenditurè complN8d wth the Contr￿ prctedure8 and was approproiety charged. We also re¥￿¥￿d journal adiusimènts and unusual tran5acbryB lor monagem•rt mmd•, aThJ c4xfaKSer&J thp Kjenbficabm 8nd d¢sclowre ol related party transactions Th¥r& aro inherent limitsts.ons in Ihe audit pr¢<*dLYe8 d•scribe(l ab)¥e aThJ. I￿ further remmj nOn￿MplI•n￿ wth laws aThJ regulats'ons is from thè avents and transaclicms ref￿ted In the fina￿81 $￿eMents. ¢he kss Iikdy we woukl becL)rne aware ol it. The nsk of not detec*ng a matenal misststgm8nt du8 to fraud is higher than the nsk of not dateth"ThJ one resulting from error, as fraud may Invohe deliberate c4JTr2alrrwl by. fty ¢x￿pIe. lorgery or intenbonal misrepresent8tsons, or through collusion A further descripts'on of our responsibilit￿ fr)r the •J4rt of the finanaal statern￿ ¢5 IcK*ed on the Finanaal Reporttng Council's web51te at www frc Org.UhJa￿Jrt0rsreS￿Sl￿litles This de￿"p￿On tsms part ol our Report of the Independent Auiyitors. Page 6 Report of thè Indep8ndont Audltors to thè M•mb•rn of Th• John Booth Charitable Foundation Use of our roport This report Is made s¢Yely lo the ¢hant8Ne Cx)mp8ry's rnernbws, as a bocty, in accordan￿ Chapter 3 01 Part 16 01 t Companies Act 200$ Our audrt vK)rk has been urylertaken so that we might state to the charitsble company's members those matters ￿ are to state to them In an audrtors. report and lor no other purwse To the fullest extent permitted by18W. we do notaccepl orassume responsiblty to atyonè othw than thè charitatAé c￿￿nY and th• tharilablg company's rnembgrs as 8 body. ¢ur audit wcyk. for this repryt. or for the h8¥e formed. G N S¢evens¢n (Senior Siatutory Audrt¢xl for and on behalf ol Knox CropFer LLP Chartered Accounlanis and Statutory ￿jdito￿ 65 Lèadanhall Strgel London EC3A 2AD Dal¢. 2s/5/ioi6 P8ge 7 THE JOHN BOOTH CHARITABLE FOUNDATI&Y Statèmènt of Frnancial A¢tivlties Ilncorporating an Income and Expendlturn Aeeouiit) for th• Year Ended 30 June 2025 2025 Unre8trlct•d fund 2024 Total fuThJs INCOME AND ENDOWMENTS FROM Donations and legaoes 357,$00 437,5 Investment incorne 302.422 307,037 Total 744 537 EXPENDITURE ON Raising furtds 63,026 61.089 Charftsbl• acllvltl Grantmaking 2 420 S56 1821434 Tot•1 2 483 $82 Nel gains on investments 2 865 421 NET INCOMEIIEXPENDITUREI {976,6891 1,727.435 RECONCILIATION OF FUNDS Total fyjnds brought forward 23,809,236 22,081.801 TOTAL FUNDS CARRIED FORWARO 22 832 547 23 809 238 The ncrtes lorm pwt ofthes• fmnu81 sLrtements Pa9e 8 ThE JOHN BOOTh CHARrrA8LE FOUNDATKIN Balanee Sh••t 30 Jun? 2026 2026 Total funds 2024 Totsl fvnds FIXED AsseTS Invostmonts Investsnents Sccal investr￿nts t2 13 22.915.863 rJ,628,282 22.915,803 23.778.282 CURRENT ASSErs Debtors Cash at bank 14 21.380 23.792 24.945 38,774 CREDITORS Amounts falling duevthhin one year 15 183.261) (7.8201 NET CURRENT A88Ers TOTAL ASSETS LESS CURRENT LIA8LTllES 21867y7 23.809.236 CREDITORS Anw)unts falliro due after rN)re than one year 16 {25.1)￿) NEf ASSETS 22 832 fA7 FUNDS Unrestric*d fijnd 17 7 23 809 236 TOTAL FUlaJS 7 23 809 236 These financial staternents have been prepared in a￿￿[danr* Wlth the provisions applicable b tharitable cowpanEs subjeL* to the small cLJrnpanies regime. fia 2¢%S The finan￿81 statements*tre approved bytho Board of Trustees and authori3egni8•d in Ih stst0rr￿l of Financial onc• th8 tharty has onbdement to the funds, it 18 proba￿• that Ihe Inc4)m• ￿11 b• rK¢N•d th• amount c4n r•lkqt4y. Donalions, 19gao•s arvj Other l¢Ym$ of V￿Untary I￿rne are rec03n￿￿ 88 incorne when the tharity 18 •nty'iiod ¢0 receipl All other incc¥ne Is accounted for rm an •xru•l$ b$81$ Foreign exthange gains and b)$8e8 arwe on cash held wthin th investrnent portfolio and are a¢￿U￿10d lor as a comp￿￿ of inve6tmeni incxmntr. Expondltur• Liabilities are recognised as expenditure as $c￿n as there 1$ 8 legal or conslrucb've oblig8ti¢n ts)mmitting the chanty to that exp8ndilure, li Is prOba￿e trat a Iranslef ol economic b￿&fitS wll be required in sewement and tha amount ol the otlig8lion can ￿ maasured relKaUy Expendrture 15 acwunied fof M 8n gwls basis and has been cl86sified under heading$ that aggr8gat• all cost related tothe caie9yy Where r¥$ts cannot be directy attnbLrted to particular headings they have been 8llc¢#tsd to a¢D"wtyes tx • b•w C￿￿Stent tmth the use of rI￿reas. Grants offered 5ubiecl to wlith hw• ncrt t*gn met at the yew er*J dato arè n￿a as a t>)mrnilm&nt but t)ot as èXFondrtur•. Inv•8tm•nts Ll•ted InVe8th￿nts Listed Investments are a fomi of basic finanaal investrneni and arè inthalty recognised at their tr8ns8cion value ¥nd subsequenlty rneasur8d * lair value asat Ihe bai8nce sheel date using the closin9 quoted market prre The staternent of finanual ¥ctivibes I￿udeS the net ￿n$ and losBe6 anwrv4 on rev•lLthons and dispKJsals throughout the year Realised gains 8noJ lo8w on list￿ investments a￿ cakyjlated as the difference bètsveen sales prcceeds and their opelling caryiry value or Iheir purth&8e value If ats4uI￿d subsequent to the first day of the finanaal year. un￿alISed gains and10¥89s offj calcuLat•d as the drffer￿ fw'r at ll)• y•ar and aThJ ih&r carrying value. P¥9e 12 contrnU￿j... THE JOHN BOOTH CHARITABLE FCKINDATI(*I Not•s to th• FinancKal Statements. conllnued tor th¥ Year Ended 30 June 2025 ACCOUNTING POLICIES- cofttln￿d Imiestm•nts Unllsted Inve8bn•nts Unlisted Investments are iThtialty reco9nised at their transoctth) Val￿ ar¥J subsequenty measured at C05t less Impairment or, If it can btr measured reliabty, the lair value. So¢lal Investments Conc¥ssionary loans male to benefiriano5 In fvjrthwance of the FouTrJabon's tharrtable purpos￿ are accountad lor a$ a so¢io1 inve8tmenl These a￿ Inibalty rwnised at thw'r transacts.0￿ valu8 aThJ $ubsequenYy measured to rellect repayments and any acuued intefest adjust•d rf neewary lor aty Imparm•ni. T*¥¥¢ion The charity Is 8x•mpl from ¢orp)ralw tsx M its ch￿18¢40 xD"vrt]88. Fund •c¢ountlng Unrestricted funds can t* usad in ar￿•r￿* the thantaty* c**J•#v*s 81 th* tJiaw•b"on ol thts tru$t••8. Restreted fv4nds can cnly btr for parb￿lar rostrbL*ed purkM)ses within the ot4'eL#8 of Ihe dwfty. Restn'Ct￿8 ari8e vhwn by dmor ty ￿en funds ¥r• r¥ised f¢¥ pBrbuJlar restiicted purpN Further eX￿anat￿ ofthe nabm purp)8e o1oK* Incaud•J in th• not•s to th• financ)al 8tat8m8nts. O•btor• Trade and othor debtrt are rocogni8•d at the setdemert amount due after ary trod• ¢Ji8count olf•rgd. Prgpoym•nls are valued at the amount pr¢roid net of arry trade discounts tj C••h at bank and In Cash bank and cash and short temi highty inve$tmenls ￿th • m•turfty of threg months or1•88 from I dale of ac4uisibon or opening of the depcart or similar acc4Junl Crodliorn and pro¥l•bon• Cr*ditor8 aThJ provi$iw$ aro rwnisod th• Charty has a prgseN oNi9atyty) Wu￿"r￿j from a past •vant that will probably result In the transfer of lunds to a Ihird paity and the arnwnt due to settled the oNig8ts'on can be measu or estimated rgliatyy Creditors ond prtyty"￿ •r• normalty wwi$8d at ththr $81118mgnt arnount after ￿lowIng lor any trade disco¢Jnls due Flnancl•l In•trLwnenl• The Charity only has financjal a68ets and finanoal liats'liti¢S ol a kiThJ that qualify 8$ basK finanoal Instrum&nts. Bastc finewal In8lrum¥nts are Inibalty re¢(￿1￿ at tr￿SactIon value and subsequenty me8wrnd at thèir satti8ment value wth the excepti￿ of bank loans whth are subsequenty measured al amorty8ed cosi the effethve interest method. OONATIONS AND LEGACIES 202S 2024 Donatic￿$ Gift ald 286,000 350.IXKJ 437.5QJ Page 13 contsnuga... THE JOHN BOOTH CHARITABLE FOUNDATIC*4 Note5 to the Financial Statements- eontlnu•d for the Y•or Ended 30 June 2025 NVESTMENT INCOME 2026 2024 Dmdends rece￿a￿e Interest receN8ble Intèrast on social investments Currency gain51llossesl 19S,903 101,195 194,787 102,641 6,016 3,613 307.037 RAISING FUNDS ImiMtsn•nt manag•m•nt co•ts 202J 2024 Portfolio manag•m•nl Support ¢06ts 619 120 61.079 10 61.089 CHARITABLE ACTIVITIES COSTS Grant lundin9 of es Supwrt costs16e8 note 81 1s•8 n 71 Totals Granlmaking 2 420 S56 GRANTS PAYABLE 2025 2024 Granlmoking 40$ 379 Pa9e 14 )nbnugJ... THE JOHN BOOTH CHARrrABLE FOUNDATION Not•8 to th• Flnaneial Ststemenl•. ¢onllnwl for the Year Ended 30 June 2025 GRANTS PAYABLE- contlnu•d 2025 2024 The Nabonal Gallory Chichester Cathedral Blackbum Cathedral De51gn Museurn The Royal Opefa Hou Art Fund Goodwood Art Foundab'on Grange Festwal Into University Tale Foundatith Merton College. Oxford Opera Holknd Park Pu$¢y Hous• The Ch8destc￿ Trust Outsid8 In Art St Luke's PCC Whit8chap* Gallery The Prin¢e'$ Trust Walsingham Col*e Depaul Intemation St Hugh's Charterhous The Arts Foundatson University of Derby Royal Drawng Schwl St Matthew's PCC Royal Acaderny of Mu8 St Paul's Brighton PCC C*•fs In Sd)¢ol$ Scrum Theatre The 8KJ Give (Arts For Impacti Other InstitUt￿nS l<£S.CQOI 1,250,Cth 1.268,200 150.Q)) 1thJ,CtsJ 77,550 25.CMJ) 25.W) 25,CX)O 25,(X)O 22,500 10.4CIJ 10.(JXI 10,W) 7.113 25,C 21,360 10,CO) 1co.coj 65.OCM) 2S,OOJ 15,0 15,0 10,0 10,OCK) 35 596 2,398.129 9.250 1.805,769 700 Grants to iTrJiwdug1$ 2 405 379 18C6 469 Page 15 cwtinued... THE JOHN BOOTH CHARtrABLE FOUNDATION Notes to the Flnanclal Statements- eontinu•d lor th• Y•ar Endéd 30 Jun• 2025 SUPPORT COSTS Management Totals Investment management CO8ts Grantmaking 120 10.101 120 1S.177 SupF#)rt co$1$, In th• •t#M. or• •s follm.. 2025 2024 Investment management Totsl activi*'e8 Total actNibe& Grantmakir¥J Bank charge8 Administrati Auditors. rernunerat Auditors. r•mun*ralw for non •udrt 120 745 9,356 2,820 743 9.462 9,356 2,820 120 NET INCOMEIIEXPENDITUREI Not inwnWlwpeThJiturel 18 St¥ted aftor¢har9iTh¥ltsYdNI'n91". 2023 2024 Auditors. r•rnun¢rai Audi¢or$' ffjrnun•r8¢￿ f￿ wdrt 2.820 2.640 2.130 10. TRUSTEES. REAIUNERATION AND BENEFITS Th•r• w8r• no Irusttt8' rgmurw8)M CY t•r*fits ts thg yggr 30 Jung 2025 nor for the year ended 30 June 2024. Trust￿•. •xp•n￿l There were no twstees, eX￿er￿S paid lor the year ended 3) June 2025 rw for the y￿r Jung 2024. 11. COMPARATIVES FOR THE STATEMENT OF FINANCiAL ACYlVtnEs Unrestnctod fund INCOME AND ENOOWMENTS FROIIJ Donations and 169au6s 437,500 Investment income Totsl 744.537 EXPENOITURE ON Raising funds 61,¢J69 Pap 16 con*'nued... THE JOHN BOOTH CHARfTA8LE FOUNDATION Not•S io the Financlal Statsments- continued for ¢he Year Ended 30 June 2025 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnvffiES- contlnu•d Unrestricted fund Charltabl• a¢tlvltle• Grantmakin9 1.821,434 TotAI Nat gains on invèsbnents 2 865.421 NET INCOME 1,727,435 RECONCILIATION OF FUNDS Total fijnds brought forward 22.081,801 TOTAL FUNOS CARRIED FORWARD 23 809 236 12. FIXEO ASSET INVESTMENTS 202 2024 Share8 Loans 21.915.863 22,628.282 1 CM)O.OCM) 23 628.282 AdditK)nd informolw 06 fr41M.' Ca¥h and 88ttknment5 pending Listed investrnents Unl¢st•J inveslrner T0ts18 MARKET VALUE At 1 July 2024 Additions Disposals Unrealised gainslOo8s•sI Movement cash Ex¢hang• differer 21.794.828 114.919 11.726.965) 616.070 746,608 187,500 22,628,282 302,419 11.726,9661 797,252 184,4491 181,102 184,4491 6761 At 30 June 2025 20 796 8S2 1115288 21915863 NET BOOK VALUE At 30 June 2025 111528 21 915863 At 30 June 2024 21.794.828 746.6Cfj 22 628.282 P￿e 17 THE JOHN BOOTH CHARITABLE FOUNDATION Nots¥ to the Finan¢i•l Statements- contSnu•d for the Year Ended 30 June 2025 12. FIXED ASSET INVESTMENTS- contlThxd Othèr loans At 1 July 2024 aTrJ 30 June 2025 Therè no inve8lmwrt a58ets ¢Jrtside the UK. Induded in listed investrnents 18 £20.798.851 12024" £21.794,8281 in unli8knY invostmèntS L8 £1.115,28812024". £746.6Cel measured at lair Vall￿ through profit ¢x loss Th8se are the onty finanoal assets mèasured at fair valuè through profit or10ss. Fair value movements cfi theBe financial assets amounted to gains of £797,25212024' gains of £2.683.8811 Analysis ol Investrnent gal￿ IoB888 reFThted in Stat￿•￿t of Finwwxl kntses. Pr￿e¢S ol Investments s¢4d Carrying yalu• 1,778,684 1 726.9651 R•alisèd 9ains on disp)sal olinv•stmwts Unrealis8¢J gains on Inve$tm¢nts 49.719 797.252 Gains on In￿$tmentS 846.971 13. SOCIAL INVESTMENTS Loans MARKET VALUE At 1 July 2024 Other movements 160,OC#) 1S0 OOQI AI 30 Jun• 2025 NET 800K VALUE At 30 June 2025 At 30 Jun• 2024 150.(JXJ The concessionary loan 1$ unwJJre(l and bgors Into￿1 •t 4% Durin9 lh• y•ar t￿ OLtslandiro ban was converted Into a grant to the loan TWA￿ent BI￿k￿Jrn Cathwjral. as slKMn In Note 7 14. DEBTORS.. AMOUNTS FALUNG OUE ￿THIN ONE YEAR 2026 2024 Other debtors 23,792 Ptye 18 cKJnb"nu&J... THE JOHN BOOTH CHARITABLE FOUNDATION Notes to the Flnanclal Statsments. contIn￿d for the Y•ar Endèd 30 June 2025 15. CREDITORS: APAOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 other ¢reditLys Grants payabl& Accrued expenses S1 75,0(Kl 8.210 7,820 7,820 16. CREDITORS: AMOUNTS FAWNG DUE AFTER MORE THAN ONE YEAR 2026 2024 Grants payable 17. MOVEMENT IN FUND8 Not movement in funds Al 30.6.25 At 1.7.24 Unmtrlctod lund• Genef81 lund 23.809.238 1976.6891 22.832.647 TOTAL FUNDS 23 809 238 ￿¥76 6891 22 832 $47 Net movement in fvnd8. Indutjed in •bov• or• 86 fdlm.. Inctsmlrg R¢S￿r G¥u)$ #nd 108seB Mov•mont in fvnd& Unrn8trl¢t•d lund• G8n8ral fund 659.922 12.483.582) 840,971 1970,8891 TOTAL FUNOS 976 6891 cornpar•tl￿ lor mov•m•nt In lund• N•t movem&nl in bjnds At 3J.6.24 At 1.7.23 Unr•8trfet•d lund* G8ner81 fvnd 22.081.W1 1.727,435 23.809.236 TOTAL FUNDS 22.081.801 1727,435 23 809.236 Page 19 conb'nued... THE JOHN BOOTH CHARFTA8LE FOUNDATICX4 Notes to the Flnanelal Stst•m•nt•- ¢ontinwd for the Year Ended 30 June 2025 17. MOVEMENT IN FUNDS- eontlnuod Comparative net movernent in funds, w•Yuded in th• aknè ar• a$ fdltms" IncornirKJ Resources Gains and losses Movement in funds Unre•trlct•d fvnds General fijnd 744.$37 11,882.S231 2.865,421 1.727.435 TOTAL FUNDS 744.537 1 882.523 2.e65,421 1.727.435 18. OTHER FINANCLAL COMMITMENTS The F¢￿Ind￿lI￿) ha6 ccffjmrtted to inve8t a trA#I 01 £T50.c￿ in E￿8C•je 1 IrN68trnents 3 LP ol which £3CQ.(MX) ha8 been Cal￿ up as 8t the balar￿ sheet reSu￿.1V4 in a remainiThJ ccffjmrtrn8nt to Invest £450,OCQ. 19. RELATED PARTY D18CLOSURES During the perN)d the Charty rec4Ned ¢knationB olc¥sh from Mr Bc¢Jth, a trustoe. totalliryJ £286,IY)J12024.' donations totalling £350,CWI. Mr 800th Is a partnw In cer￿ Cawtsl Partn8rs LLP. lh8 Charitys In¥g$tmgnt many, to %thorn f888 01 £52,394 indusive ol VAT12024." t50,8121 payablè in th• wnc•J Thg Ch8rty mad• gf•nls loth• foIhY￿.r￿j tyyni8gbon8 ofvthth Mr Bc#)th 18 •180 a trwte•, tyw88 81 th• bm• ol m8king the grant.. - The Natsonal G*lery £1.250.QY) Page 20